A New Keynesian model with heterogeneous expectations

By William A. Branch, Bruce McGough. 2009

243 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/dd9690a5582be7b4aa17f66bd01d32945d9e9de0

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In Economics and Econometrics

Citations in the corpus

Individual Expectations and Aggregate Macro Behavior (2011, background): “More recently a number of authors have extended the NK model to include heterogeneous expectations, e.g. Gali and Gertler (1999), De Grauwe (2010) and Branch and McGough (2009, 2010).”
Behavioral & Experimental Macroeconomics and Policy Analysis: A Complex Systems Approach (2018, methodology): “Branch & McGough (2009, 2010) used a one-step ahead Euler equation approach to derive the aggregate IS and NKPC under heterogeneous expectations, after imposing restrictive assumptions about the individual forecasting rules.”
INTEREST RATE RULES AND MACROECONOMIC STABILITY UNDER HETEROGENEOUS EXPECTATIONS (2012, unknown): “…macro models with heterogeneous expectations include Brock and de Fontnouvelle (2000), Evans and Honkapohja (2003, 2006), Branch and Evans (2006), Honkapohja and Mitra (2006), Branch and McGough (2006, 2009), Berardi (2007), Tuinstra and Wagener (2007) and Brazier, Harrison, King, and Yates (2008).”
Heterogeneous Expectations in Monetary DSGE Models (2013, methodology): “Differently from our work, Branch and McGough (2009) start from the assumption that agents with subjective (non-rational) expectations choose optimal plans that satisfy the associated Euler equations instead of looking at the intertemporal budget constraint.4 The consequence of this behavioral…”
Complex Evolutionary Systems in Behavioral Finance (2008, methodology): “Here we use the simple constant growth Gordon model for the fundamental price and estimate the two type model on deviations from this benchmark.(24) Recall that R∗ = (1 + r)/(1 + g), where g is the constant growth rate of the cash flow and r is the discount rate r equal to the risk free interest rat”
Heterogeneity, learning and information stickiness in inflation expectations (2010, background): “Some theoretical studies have introduced heterogeneous expectations in standard macroeconomic models, such as in the New Keynesian model (Branch and McGough, 2006).”
The science of monetary policy: an imperfect knowledge perspective (2018, unknown): “A few papers have investigated the consequences of heterogeneous private beliefs for monetary policy at a theoretical level Branch (2004), Branch and McGough (2009, 2010, 2011).”